Consumer Spending Anemic as 58% Say Economy “Getting Worse”

http://www.profitconfidential.com/economy/consumer-spending-anemic-as-58-say-economy-getting-worse/

I have written over and over again on how distorted the U.S. business sales and inventory figures are. Manufacturers are stockpiling products. Retailers are experiencing a decline in sales. Consumer spending is getting softer. But it’s more than just retail that is becoming a drag on the U.S. economy.
Statistics from the U.S. housing market also point to very soft consumer spending.
In July, the annual rate of new home sales in the U.S. economy came in at 507,000 units—a five-percent increase from 481,000 annualized units a year in June. (Source: U.S. Census Bureau, August 25, 2015.) Mainstream media looked at this and called it an “improving” housing market.
But the reality is the long-term average of new home sales since 1963 is 655,000 units. In other words, new homes sales in the U.S. economy are still running 22% below the historical average. (Source: Federal Reserve Bank of St. Louis, last accessed August 25, 2015.) And please keep in mind: our population in 1963 was a lot less than it is today.